Ehsaas Apna Ghar: KP govt launches interest-free loan scheme

PESHAWAR: The government of Khyber Pakhtunkhwa (KP) has launched the ‘Ehsaas Apna Ghar Scheme’, which provides interest-free loans of up to Rs 1.5 million to families with low incomes for housing purposes.

A memorandum of understanding (MoU) was established between the Housing Department and the Bank of Khyber to facilitate the execution of this initiative.

The ceremony was chaired by Chief Minister Ali Amin Gandapur and attended by cabinet members Dr. Amjad Ali Khan and Muzammil Aslam, along with officials from the relevant departments and the Bank of Khyber.

The objective of the program is to offer financial support for the construction of new homes or the renovation and expansion of existing properties.

With an allocation of Rs 4 billion, the scheme features a straightforward repayment plan over seven years, with beneficiaries required to pay a maximum monthly installment of Rs 18,000, ensuring the loans remain affordable.

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To be eligible, applicants must possess land. The scheme will function under a revolving fund system and will be operational for the next seven years.

During the event, Chief Minister Gandapur reiterated the government’s dedication to enhancing housing for low-income groups. “Ensuring access to quality housing is among our highest priorities. The Ehsaas Apna Ghar Scheme exemplifies our commitment to improving the living standards of the disadvantaged,” he stated.

Earlier in October, Khyber Pakhtunkhwa government launched a low-cost housing scheme aimed at benefiting citizens with a monthly income of less than Rs 50,000.

The housing initiative is part of the Naya Pakistan Housing Program, covering an area of 150 kanals with an estimated cost of Rs 3,300 million.

In the first phase of the project, 120 flats will be constructed, with a total of 1,320 low-cost apartments planned for completion.